#AceFinanceNews – USA:Dec.23 – Dow Jones Industrial Average broke through 18,000 for the first time Tuesday, propelled higher by a better-than-expected report on the economy in the third quarter.
If the Dow closes above 18,000, it will have taken the index only six months to climb there from 17,000.
It took only seven months to get from 16,000 to 17,000.
The market’s rise has been good news for Americans who own shares, including the wealthy, corporations, financial firms and workers with retirement funds and pensions invested in stocks.
For those who don’t own shares, it could mean a widening wealth gap, however.
#AceFinanceNews – MOSCOW:Dec.23 – The Russian government will consider the Energy Ministry’s proposals in late December or early January on admitting independent gas producers to the China-bound Siberian gas pipeline, Energy Minister Alexander Novak said ./Tass/. reported.
“The government’s meeting on the issue was held two weeks ago. We expect the government to return to considering our proposals on admitting independent gas producers in a month,” Novak said.
“Most likely, this will happen in late December or early January. A possibility is also being discussed for independent producers to invest in the construction of the Power of Siberia gas pipeline’s additional capacities,” he said.
The Power of Siberia gas pipeline estimated at over $21 billion is intended to pump 61 billion cubic meters of natural gas annually to the Russian Far East and China and will stretch over a distance of 3,968 km (2,465 miles).
#AceFinanceNews – CHINA: Dec.23 – China has joined India in helping the Russian economy, but closer to home Belarus and Kazakhstan are hedging their bets on future relations.
Chinese foreign minister Wang Yi said in China Daily, a state mouthpiece, on Monday (22 December): “Russia has the capability and the wisdom to overcome the existing hardship in the economic situation. If the Russian side needs, we will provide necessary assistance within our capacity”.
China Daily noted that Russia has “hundreds of billions of [US] dollars” in its foreign reserve fund and is far from collapse.
It added that China is ready to offer loans and investments in infrastructure projects, with a new Russia-China gas pipeline, a deep-water port in Crimea, and railway schemes in Russia’s Far East under discussion.
The Chinese statement comes after India, earlier this month, bought 12 nuclear reactors from Russian firm Rosatom and launched joint production of military helicopters.